Toilet-grade corporate bonds are booming. Oh, this will end well.
Yep. Demand for junk bonds is booming as investors desperately search for higher returns. This has sent yields plummeting to their lowest levels in two decades. And this makes even less sense than usual given how tepid the recovery has been. It’s not as if high-risk bonds are safer than normal at the moment.
We never learn. We never will.
